Greek Immigration Program Adds New Investment Options
Investors Welcome Expanded Options for Greek Golden Visas
After more than a year of anticipation, the Greek government announced changes to the country’s Citizenship by Investment Program (CIP). This “Golden Visa” investment initiative originally only permitted real estate investment as a route to receiving a passport through the country’s CIP.
A bill to expand the CIP still needs to receive final government approval but Greece’s Minister of the Economy, Stergios Pitsiorlas, has said that these updates to the Golden Visa program will be a priority. Under the proposed changes to the CIP, investors would have the following options:
• Invest €250,000 in real estate
• Keep a minimum balance of €400,000 in a Greek bank for a specified minimum period of time
• Invest €400,000 through real estate investment companies
• Invest €800,000 in Greek government bonds
Greece’s Golden Visa is currently by far the most popular CIP in Europe. Providing these new options for investors should further increase the number of applicants choosing Greece as their preferred investment and citizenship opportunity. If the proposed changes in the CIP go into effect as planned, it is estimated that by the end of this year the Hellenic Republic will have the most popular CIP in the world.
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